I like starting in the Midwest because it's affordable and offers good cash flow.

you have to have more patience than the people who want to look at 3 properties, make 1 offer, and be done. 

Even after finding a qualifying building, if you can use the new 5% down program you may find less resistance to your offers since sellers often don't want to deal with the additional inspection.

I have experienced cash flow anywhere from 10-18% with so much more to offer.

That being said, going forward I wouldn't wave the inspection period unless there were other offers or you knew for sure it was a killer deal. 

I'd be patient, keep looking, inspecting, and making offers that work for you.  

These accounts offer tax advantages and can be a powerful tool for long-term wealth building.Focus on Education and Networking: Continue to educate yourself about real estate investing and personal finance.

For rent stock not rent controlled, the rent should exceed rent control limits (i.e. will be more than $200/month).In March, we had an offer on a property with a value add of an ADU (We pulled out during DD because of an risk with the value add). 

Reno, on the other hand in the heart of the West, offers a more consistent track record-just what you want for peace of mind in your investments.Key Points:1) Reno is holding its own with solid occupancy rates for multifamily properties.2) Across the West, occupancy is more consistent, and Reno fits right into this pattern.3) For a balanced approach to investment, Reno’s stability is worth considering.For those San Francisco, Sacramento, San Jose, Los Angeles investors looking at the big picture, Reno is a smart choice.Source: Freddie Mac Multifamily 

You don't want to add insult to injury by offering to buy their house off the bat including offering to do a Subto.